The Tasmanian Ambulance Service Superannuation Scheme is a defined benefit scheme.
Membership was open to permanent Tasmanian Ambulance Service employees who were employed prior to 30 June 2006. The scheme was closed to new members from 1 July 2006.
For more details on how your Tasmanian Ambulance Services Superannuation Scheme benefits are calculated and insurance cover please refer to the 
Tasmanian Ambulance Services Superannuation Scheme – your benefits explained fact sheet.
What happens to my money if I resign?
If you resign from the Tasmanian Ambulance Service and you are under preservation age, you will be provided payment instruction forms to complete in order to transfer to a complying superannuation scheme of your choice (less tax). The employer component of your resignation benefit together with the fund component attributable to service after 1 July 1999 will be classified as preserved.
Commonwealth law provides that preserved benefits must remain in a super fund until you reach your preservation age and retire from the work force or you satisfy a condition for the release of preserved benefits such as Terminal Illness or Permanent Incapacity.
For more information please read:
Tasmanian Ambulance Services Superannuation Scheme – your benefits explained fact sheet
What happens to my money when I retire?
If you satisfy the conditions of release, you can access your benefit by transferring your benefit to a complying superannuation fund of your choice; cashing all or part of your benefit or a combination of both.
If you retire from your employment with the Tasmanian Ambulance Service on or after you have attained your preservation age, but before age 60, your retirement benefit will be preserved as follows:
- If you have not permanently retired from the workforce (that is you intend to again become gainfully employed on either a full-time or part-time basis), the employer component of your retirement benefit together with the fund component attributable to service after 1 July 1999 will be classified as preserved; or
- If you have permanently retired from the workforce and RBF is reasonably satisfied that you do not intend to again become gainfully employed, either on a full-time or a part-time basis, the entire amount of your retirement benefit will be classified as unrestricted non-preserved.
If you are 60 or more when you retire from your employment with the Tasmanian Ambulance Service, the entire amount of your retirement benefit will be classified as unrestricted non-preserved.
Commonwealth law provides that preserved benefits must remain in a super fund until you retire from the work force or you satisfy a condition for the release of preserved benefits such as Terminal Illness or Permanent Incapacity.
What tax will I pay when I retire?
When you reach preservation age and choose to access your benefit, taxation will be determined by both your age and the type of benefit you choose to access.
Super benefits coming from Tasmanian Ambulance Service Superannuation Scheme will become tax exempt when you reach age 60.
If you retire and access your super benefit before age 60 you may continue to pay some tax until your 60th birthday.
The table below shows the impact of taxation to member's benefits:
| Income | Tax component | Accessed by members from preservation age to 59* | Accessed by members aged 60 and over |
| Lump sum | Tax-free | Tax-free | Tax-free |
| | Taxable
(taxed) | $0 - $200,000 will be tax-free
Above $200,000 taxed at 15% plus the Medicare Levy | Tax-free |
* Taxation rates and thresholds effective 1 July 2017 and are subject to change.